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All You Need To Know Going Into Trade On May 11

Asian stocks opened higher after their U.S. counterparts rallied amid relief the latest reading on American inflation suggested less need for the Federal Reserve to accelerate monetary tightening.

Equity benchmarks advanced in Japan and South Korea, and futures on Hong Kong shares rose before the open there. The MSCI Emerging Markets Index is heading for its best week since March thanks to easing investor concern that higher U.S. yields and a stronger dollar would spur broad contagion.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.46 percent to 10,780 as of 7:00 a.m.

Here’s a quick look at all that could influence equities today.

Global Cues

U.S. stocks rallied to a seven-week high while the dollar sank and 10-year Treasury yields dropped further below 3 percent after a weak inflation reading signaled the Federal Reserve won’t need to step up the pace of interest-rate increases.

The S&P 500 Index crossed above its 100-day moving average and breaking out of the downward-sloping trendline that’s been in place since late January.

Europe Check

European stocks closed mixed as FTSE rose on Bank of England’s decision to hold rates while Italian equities slid on election jitters.

Asian Cues

Japan’s Topix index rose 0.6 percent as of 9:21 a.m. in Tokyo.

Australia’s S&P/ASX 200 was up 0.3 percent.

Hang Seng futures rose 0.9 percent.

Futures on the S&P 500 were little changed after the underlying gauge closed up 0.9 percent.